Canada is stepping up its space game. 

Transport Minister Steven Mackinnon announced the Canadian Space Launch Act on Tuesday. It’s planned to build a domestic launch industry that’s estimated to be worth $40 billion. 

“Canada has reached the moon, but still lacks its own way, its own sovereign way to space — and that changes today,” Mackinnon said. 

The announcement comes as Prime Minister Mark Carney has called for reducing Canada’s “over-reliance” on the United States, in his most recent video message. 

“The reliance on the U.S. sends investment out of our country, creates costly delays and leaves critical infrastructure exposed to decisions beyond our control,” MacKinnon said. 

Canada is the only G7 country without its own space launch capabilities, a gap the government is now looking to close. Currently, the worldwide space economy is projected to hit $1.5 trillion by 2032, with Deloitte estimates Canada’s domestic market alone could reach $40 billion by 2040. 

Since 2023, Canada’s space workforce has increased by 5.9 per cent, creating over 13,000 jobs. 

The proposed legislation would create a modern regulatory framework to authorize and oversee launches and re-entries from Canadian soil.

MacKinnon added that launches could start in two to three years, should the bill pass.

The bill would focus on building and sending satellites, civilian launch and military requirements equipment to space, while also further advancing telecommunications, intelligence gathering, mapping and geolocation, MacKinnon said. 

It also builds on the broader federal push into space.

In March, National Defence Minister David McGuinty announced a $200 million investment toward core infrastructure for a Canadian-owned spaceport in Nova Scotia, as part of the government’s Defence Industrial Strategy.

When asked by a reporter why the defence department is prioritizing space sovereignty today, MacKinnon said Canada “cannot permit” itself to fall behind with varying geopolitical tensions happening. 

“This is about giving ourselves the options and the capability of protecting Canada, of making sure our Armed Forces stay current and on pace with the rest of the world,” he said. 

MacKinnon added the Canadian astronaut Jeremy Hansen played as a “catalyst” for this bill.